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Yantai holds “China-S Korea FTA” coverage activity press conference

2015/9/17 12:05:55   source:sdchina.com

  Yantai press conference of the "Shandong Goes Ahead in the China-S Korea FTA" coverage activity was held on September 16.

  Bi Shuli, vice head of the Publicity Department of the CPC Yantai Municipal Party Committee delivered a welcoming speech and gave a brief introduction of Yantai city.

  Chen Xinzi, deputy director of Yantai Municipal Bureau of Commerce introduced Yantai’s opportunities in the construction of the China-South Korea FTA and the work Yantai has done in deepening cooperation with South Korea.

  The conference is presided over by Ren Jingshu, vice director of the Publicity Department of the CPC Yantai Municipal Party Committee.

  Yantai press conference of the “Shandong Goes Ahead in the China-S Korea FTA” coverage activity was held on September 16. At the conference, Bi Shuli, vice head of the Publicity Department of the CPC Yantai Municipal Party Committee delivered a welcoming speech and gave a brief introduction of Yantai city. Chen Xinzi, deputy director of Yantai Municipal Bureau of Commerce introduced Yantai’s opportunities in the construction of the China-South Korea FTA and the work Yantai has done in deepening cooperation with South Korea. The conference is presided over by Ren Jingshu, vice director of the Publicity Department of the CPC Yantai Municipal Party Committee.

  Yantai, located in the east of Shandong peninsula and bordering the Yellow Sea and Bohai Sea, faces South Korea across the sea. It lies at the intersection of the Pacific Rim economic circle and Northeast Asia economic circle, and it is also a central city in the east of the Bohai Economic Rim and one of the most dynamic traffic hubs in the Northeast Asia. Yantai has become one of the cities that have the closest relations with South Korea due to its unique regional superiority, remarkable strategic advantage and convenient transportation.

  Yantai municipal government has attached great importance to the economic communication as well as cooperation and exchanges in various fields with South Korea, through which Yantai has gained valuable experience. The signing of the China-South Korea FTA and the construction of the China-South Korea (Yantai) Industrial Park have brought new historic opportunities for both Yantai and South Korea. The cooperation between the two sides ushers into an all-round and in-depth stage in various fields.

  Currently, South Korea has become the largest trading partner and the largest source of foreign investment of Yantai city. South Korean elements highlight the open economy of Yantai city.

  In 1989, the first Korean enterprise settled in Yantai. In 2014, Yantai actually uses a total of 200-million-dollar Korean investment, a surge of 30.9 percent to last year. By the end of 2014, a total of 3551 projects were invested by South Korean enterprises with a contract capital of 11.01 billion dollars and an actual use of 5.3 billion dollars. The investment involves fields of clothing, light industry, electronics, machinery, food, building materials, shipping and finance.

  “There are over 200 projects in Yantai each invested with more than ten million dollars by Korean enterprises. World’s top 500 enterprises such as LG, DOOSAN, Pohang, Hyundai and DSSC have also invested in Yantai.” said Chen Xinzi.

  Yantai established 35 projects funded by South Korean capital and actually used a South Korean investment of 100 million dollars from January to July this year. Currently Yantai is promoting a series of projects of the emerging industry such as the Hanwha Energy, modern logistics automation engineering and Lvye International Health City, with a total investment of more than 2 billion dollars. (Photo/ Dong Li'na and Wang Chengzhong)

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